Northmarq’s Fresno office finalizes $6.2M sale of 57-unit garden-style apartments

FRESNO, Calif. (Oct. 2, 2024) — Northmarq’s Fresno Multifamily Investment Sales team of Managing Director Robin Kane and Senior Vice President Brendan Kane successfully brokered the $6.2 million sale of Las Villas apartments, a garden-style multifamily community in Fresno, California. Built in 1973, the property features 57 units and is located at 4518 E. Fountain Way.

Northmarq represented the seller, Fountain Way 57 LLC, a private investor based in the region. The buyer was another private investor with interests in expanding their portfolio in the Fresno area.

"This sale was particularly interesting due to the property's strategic location and its potential for value-add opportunities," said Robin Kane. "Las Villas fits well into the greater regional market context, offering both stability and growth potential. Our longstanding relationship with both the buyer and seller allowed us to deliver a tailored solution that met the needs of both parties."

The transaction highlights the continued demand for multifamily properties in Fresno, driven by the area's economic growth and increasing population. The Las Villas apartments, with their garden-style layout and central location, are well-positioned to benefit from these regional trends.